Global Advanced Tires Market, By Vehicle Type (On-Highway Vehicle, Off-Highway Vehicle), By Technology Type (On-Highway Technology, Off-Highway Technology, Niche Technology), By Tire Type (Run-Flat, Airless, Pneumatic), By Material (Natural Rubber, Synthetic Rubber, Steel, Elastomers, Others), Geography (Asia-Oceania, Europe, North America, Rest of the World)– Industry Trends and Forecast to 2025
Market Analysis: Global Advanced Tires Market
The Global Advanced Tires Market is expected to achieve the estimated value of USD 484.1 million in 2025, from its initial estimated value of USD 156.1 million in 2018. This is all because of the fact that the increase and demand in production of premium cars all over the world has had a direct effect on the demand of Advanced Tires market and has hence improved its growth options.
Market Definition: Global Advanced Tires Market
The Advanced Tires are the new technological innovation in the tire market as they have plenty of varied options with every single one of them having their own unique benefits, self-inflating tires are meant to increase the tire durability for the users so they are meant to be used for commercial vehicles, whereas the new and improved lightweight elastomers are set to be the most improved and advanced tires because of their synthetic raw materials, and they aren’t affected by the decline in natural raw materials required for the production of tires.
The Advanced Tires Market is varied on (On-Highway Vehicles & Off-Highway Vehicles), which are further categorized into On-Highway (Light Duty Vehicles, Heavy Duty Vehicles); Off-Highway (Industrial vehicles, Agricultural Vehicles, Construction vehicles), Material (Natural, Synthetic), Niche Technology (3D printed technology tires, autonomous vehicles).
- Increased timespan and durability of these tires helps in driving the market upwards and improves the market growth
- Lower cost for the production of these tires is another one of the major driving force behind the growth of this market
- Lower carbon footprint even in production and use has also been one of the major market drivers
- The initial investment to commence the production of these tires prove to be a hindrance in the growth of the industry
- Mass production is still an issue with these technologically advanced tires and therefore, prove to be a major roadblock for its growth
Segmentation: Global Advanced Tires Market
- On-Highway Vehicle (Light Duty Vehicles, Heavy Duty Vehicles)
- Off-Highway Vehicle
- Technology Type
- On-Highway Vehicle (Chip-embedded tires, Self-inflating tires, Multi-chamber tires, All-in-one tires)
- Off-Highway Vehicle (Agricultural tractors, Construction & Mining, Industrial equipment)
- Niche Technology (3D printed tires, Autonomous vehicle advanced tires)
- Tire Type
- Natural Rubber
- Synthetic Rubber
- Europe (42% of Market distribution)
- Asia-Oceania (42% of Market distribution)
- North America (8% of Market distribution)
- Rest of the World (8% of Market distribution)
Competitive Analysis: Global Advanced Tires Market
The Global Advanced Tires Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Advanced Tires market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Advanced Tires Market
CEAT Ltd., TOYO TIRE U.S.A, CORP, Continental AG, Micheln, The Goodyear Tire & Rubber Company, Pirelli & C. S.p.A., Hankook Tire, Aeolus Tyre Co. Ltd., Apollo Tyres Ltd., Madras Rubber Factory Limited, JK Tyre & Indusries Ltd., Nokian Tyres plc., Bridgestone Corporation, Sumitomo Rubber Industries Ltd., The Yokohoma Rubber Co.,LTD. Limited, Dunlop Tires, are few of the major players currently competing in the market.
Research Methodology: Global Advanced Tires Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- The report clearly identifies the major market segments and products available in those segments focusing on their growth and decline
- The market analysis is conducted with utmost diligence and care, so as to clearly identify the factors causing market growth and restraints
- The segmentation of the market clearly identifies the areas to target for the best ROI